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What is the easiest and most fun way to teach my 4 year old about money?

I want to prepare my daughter for kindegarden by teaching her about money. I'm thinking of buying her and interactive cash register to start with and then get het to do things to earn real money (as a reward for doing chores or good behavior) and she could learn that way too! Like I said, she's only 4 and I'm just looking for different ideas that may grasp her intrest........she gets distracted easisly so I need something more fun for her.

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Asked by angel575 at 11:38 AM on Mar. 4, 2010 in Preschoolers (3-4)

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Answers (4)
  • The cash register would be awesome. What exactly are you looking to teach her? Coin values? Identification of each coin/bill? Money management?

    You can get piggy banks that sort the coins by type. We used to have one (burnt out the motor eventually. ha!) My kids liked dumping in their coins and watching it sort. They learned by size which was which.

    For value - start with a penny. Everything revolves around the penny. A child has no concept of 5 cents without understanding it means 5 pennies. Play store. Price thing in cents and give her a stack of pennies to use for payment. "This doll is 10 cents. Count out 10 pennies." When she seems to understand the concept, begin to introduce other coins. "This doll is 10 cents. You can give me 10 pennies OR you can give me one dime. A dime is worth 10 cents. It's the same as 10 pennies."


    Answer by ldmrmom at 1:45 PM on Mar. 4, 2010

  • My DS is 3 and we play restaurant or grocery store using the register. He doesn't know the value of the coins, but he knows all of the names. I would do something like that or sorting to keep it fun. I don't really agree with giving kids money for chores or good behavior. My personal opinion is that chores need to be done by everyone in the family as a responsiblity to the family and good behavior is something that is just expected. I do think it is good to give an allowance though to teach children how to save ect. but I just don't feel that the allowance should be tied to things they should be doing anyway.

    Answer by mazonmom at 2:42 PM on Mar. 4, 2010

  • mazonmom - you're not alone in this. Many agree. Personally? I don't think an allowance is the right way to go for my family. as toddlers, my kids had come to think of the bank as "the money store." LOL! I wanted them to understand the bank isn't simply giving out cash. You earn it. So for our family, earning your allowance is a must. We have a list of jobs both kids do. There are some jobs they do not get paid for - cleaning their own rooms, making their beds, getting their clothes in the hamper. Then there are those they earn money for doing. We pay out a dime or quarter per job depending on what it is. They take out the trash, unload/load the dishwasher, set the table, dust, vacuum, help with laundry, etc. Each job they do earns them some change on my tally sheet. There are some jobs they can earn extra cash for - raking, shoveling, At the end of each week we pay out. It's usually $1-$1.50. (cont)

    Answer by ldmrmom at 3:00 PM on Mar. 4, 2010

  • They don't do their job, they don't earn their cash. They don't do their "non-paid" jobs, they lose money from my tally sheet by paying me to do it. ;)

    They save money until they find something they want. They have learned a lot from the process. My DD (5yo) once insisted on having a snack after gymnastics. I wouldn't buy it, but said she could use her money. The $3 she had then went towards a drink and Cheese-its. Days later she found a $3 toy she wanted (Littlest pet shops) and was out of luck.

    My son (who is 7) wanted a new DS game. I told him it could be a birthday gift (June) or he could buy it when it came out with his money. He wanted it right away like his friends. He put aside half his Christmas money, did extra chores in addition to his usual ones, saved gift money from Grandma for Valentines and has enough to buy the $40 game when it come out next week. It's been a great lesson for him.

    Answer by ldmrmom at 3:08 PM on Mar. 4, 2010

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